Letter to the editor: Those pushing rental rules are forgetting business owners | SummitDaily.com

Letter to the editor: Those pushing rental rules are forgetting business owners

Bill and Kathy Handley

I sold my condo at Mountainwood after 16 years. It sold for $1,195,000 for 1,100 square feet. What it made me realize was that the tax assessor is going to be very happy with the rising values, but the short-term rental people in City Hall not so. The realty is that if someone can pay a million or more for 1,000 square feet, they probably will want to use it and will not put it on the long-term rental market.

Actually, any property management company or owner knows that if a condo goes in the long-term pool, it will probably be half destroyed and need an major renovation to bring it back.

If Breckenridge Town Council makes goofy regulations, the owners will just use it more. The reality is if there is a loan at 3% or 4%, then what money is made in the short-term rental will not carry the loan and HOA costs.

My point is that the bureaucracy wants to blame short-term rental owners, but the high-cost homes have changed the market. Vail Resorts, Beaver Run, One Ski Hill Place and the like are pushing from behind the scenes to minimize their costs at everyone else’s expense.

The town can reduce licenses by 50%, but that will probably not help the situation. It might help occupancy on the resorts, but visits to Breckenridge will go down as many will not pay $800 per night for a two-bedroom condo at the overpriced resorts. Rules like that would lower the amount of tourists and the amount of taxes collected. I would suggest that a few loud voices are pushing the short-term rental regulations without regard to what happens to the town and the small-business owner.

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